Plastic Rigid Intermediate Bulk Containers (IBC) are reusable plastic containers used in transportation, handling, and storage of liquids, semi-solids, solids, and pastes. The types of rigid IBCs range between shipping drums to intermodal tank containers and moved with the help of forklifts or jack pallets. The global plastic rigid IBC market report by Market Research Future (MRFR) provides insights and estimations for the period of 2018 to 2023 (forecast period) by keeping into consideration the drivers and challenges. The impact of the COVID-19 pandemic and formulation of new strategies for expansion are outlined in the report.
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The global plastic rigid IBC market is expected to grow at a CAGR of 5.8% during the forecast period. It is expected a massive haul demand-wise owing to its efficiency and increased load capacity. Moreover, the evolution of plastic-derived containers and vessels and concerns addressed to storage and space can bode well for the market. In addition, policies outlined by food safety agencies and emphasis on food hygiene were welcome benefits for the market. Durability and recyclability of rigid IBCs and demand for plastic containers devoid of BPA are expected to benefit the market in the coming years.
The global plastic rigid IBC market segment study is based on end use, material, and capacity. The material based segments of the plastic rigid IBC market are LLDPE, HDPE, LDPE, and PVC among others. The HDPE material segment can wind in high revenue in the years to come. The growing utility of HDPE IBC containers due to high flexibility and affordability can promote the expansion of the market.
The capacity based segments of the plastic rigid IBC market are 500 to 1000 liters, up to 500 liters, 1500 to 2000 liters, 1000 to 1500 liters, and above 2000 liters. The 500 to 1000 liters Plastic rigid IBC containers are widely used. Hence, the 500 to 1000 liters plastic rigid IBC market segment can rise at a high pace across the review period.
The end-use based segments of the plastic rigid IBC market are pharmaceuticals, food & beverages, industrial chemicals, paints inks dyes, petroleum & lubricants, and others. The Food & beverages segment can gain high traction across the review period.
Geographically, the global market for plastic rigid IBC has been divided into four major regions — North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
APAC accounted for the largest market share, in 2017, followed by the Middle East & Africa and North America. Factors affecting the growth of this market are technological developments and rapid industrialization in this region. China and India are the largest contributors in this region due to GDP growth in developing economies, rapid increase in manufacturing activities, and expansion of the industrial sector driving the growth of the market.Rising transportation and storage in bulk quantities of chemicals, pharmaceutical ingredients, oil, and beverages in the region is also driving the growth of the market.
In the RoW, the Middle East region is expected to contribute significantly during the forecast period mainly due to larger exports of petroleum oil.
MRFR registered some notable players in the world plastic rigid IBC market. They are include ZIBO JIELIN PLASTIC PIPE MANUFACTURE CO., LTD (China), Schutz Container Systems (US), Greif, Inc. (US), Hyosung (China), WERIT Kunststoffwerke W. Schneider GmbH & Co.KG (Germany), SCHÜTZ GmbH & Co. KGaA (US), Bulk Handling Australia (Australia), Snyder Industries, Inc. (US), Maschiopack GmbH (Germany), Hoover Ferguson Group, Inc. (US), and Sintex Industries (India) among others.
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